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BTECH has closed an EGP 1.038 bn securitized bond issuance, according to a jointstatement (pdf) from BTECH and CIB, which was the exclusive financial advisor on the transaction, as well as issuance manager, general arranger, promoter, and co-underwriter. The details: The three-tranche issuance is the first in a short-term EGP 5 bn program that the […]
Author Archives: enterpriseam admin
Posted inLEGISLATION WATCH
Domestic workers could go legit + Legislators want even more austerity
It was another econ-heavy day in the Senate and the House of Representatives yesterday: The Manpower Minister chimed in on a Senate debate about integrating the informal economy, while both MPs and senators cheered the budget cuts announced by Prime Minister Moustafa Madbouly earlier this week — and asked for the government to go further […]
Posted inLAST NIGHT’S TALK SHOWS
Good news for local wheat farmers?
The pundits spent most of last night unpacking the information released by the IMF yesterday on our USD 3 bn facility (see the full story in our Economy section, above.) Elsewhere, the talking heads were talking about moves to maximize this year’s wheat harvest. Will gov’t up its wheat purchase price? President Abdel Fattah El […]
Posted inUncategorized
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Posted inAlso on our Radar
Oil Ministry projects won’t freeze FX spending -El Molla
ENERGY- Oil Ministry projects are excluded from the government’s decision to ration FX spending, Minister Tarek El Molla told CNBC in an interview (watch, runtime: 10:08) The Oil Ministry’s partner companies tend to cover upfront investments in new oil and gas projects rather than the ministry itself, El Molla added. The Madbouly government directed on […]
Posted inPLANET FINANCE
High inflation and high rates could be here to stay, say global asset managers
Don’t underestimate inflation — or how far the Fed will go to rein it in: That’s the message to markets from major asset managers including BlackRock Inc, Fidelity Investments and Carmignac, Bloomberg reports. Investors expecting inflation and rates to peak in 2023 may well be disappointed in the same way they were in 2022, when […]
Posted inCALENDAR
JANUARY January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time. January: Fuel pricing committee meets to decide quarterly fuel prices. January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power. January: Global Auto to restart BMW assembly in Egypt. 16-20 January (Monday-Friday): Davos 2023. 24 January-6 February: Cairo […]
Posted inWHAT WE’RE TRACKING TONIGHT
THIS EVENING: Inflation hits five-year high in December + We got a first peek at the FinMin’s five-year tax policy document
Good afternoon friends, and welcome to the tail-end of this busy hump day. Picking up where we left off this morning, it’s a brisk news day here at home as macroeconomics and fiscal policy continue to take the lead. THE BIG STORIES TODAY- #1- Inflation hits new high on weaker EGP: Inflation rose to a […]